Global Edible Insects Market By Product (Caterpillar, Beetles, Cricket, and Others), By Application (Powder, Protein Bars and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Edible Insects Market Overview:

In 2021, the global edible insect market was valued at USD 452 million. This market is forecast to grow at 19.9% CAGR over the forecast period.

Global Edible Insects Market

Product Analysis

The market for edible insects can further be segmented by product: cricket, beetles, and caterpillar. Invertebrates that are most frequently consumed include the beetles which accounted for more than 30% of the global revenue for 2021. This segment is driven by factors like increasing awareness about its nutritional value and a different taste to other products.

In the forecast period, cricket is expected to grow at a 20.9% CAGR. Its easy availability, low cost, high protein content, and affordability make it an attractive alternative to other proteins. It requires very low production costs, minimal emission, and uses less water. This makes it a viable source of income. This in turn is driving demand.

Application Analysis

In 2021, the powder segment was the dominant market with a share exceeding 40.0%. It is expected that the segment will experience the fastest growth over the forecast period. The powder form’s wide use and accessibility are the main drivers of this segment. It can also be used as flour and can be eaten in any form. Mixing it with cheese, pizza, and other foods to enhance its taste is how they are used in European countries. This gluten-free cricket flour is used to make many food products.

The second-largest portion of total revenue for 2021 was made up of protein bars. Due to their gluten-free nature, athletes and sportspeople are more inclined to consume protein bars. Protein bars can be consumed immediately, with an expiry date between 2 and 3 months. But powdered forms of invertebrates may be kept for a longer time. Powders can be stored at room temperature, while bars should be kept at a set temperature.

Key Market Segments

Product

• Caterpillar
• Beetles
• Cricket
• Others

Application

• Powder
• Protein Bars
• Others

Market Dynamics

Market growth is expected to be driven by rising health consciousness, increased awareness of nutritional benefits, and willingness for new options. The demand for insects is rising among young people who are active and open to exploring new options, as they are rich in protein.

The demand will rise due to increased production of insects with minimal investment and decreased seafood consumption due to restrictions in many countries. The market growth is positive because of the high nutritional value and low cost of these invertebrates.

Governments are taking measures to educate consumers in emerging countries like India, China, and other parts of the world. This will increase the market demand. These invertebrates need less land to produce, require less feed than other animals and are 12x more protein-rich than other sources. These important factors are expected to increase market demand during the forecast period.

In countries like India, however, cultural beliefs, as well as negative consumer perceptions, can limit the market growth. In the forecast period, market growth is expected to be limited by the lack of legal guidelines and inadequate distribution channels. Because they are easy to digest, insects have often been considered the best food for malnutrition in many countries. Their resistance to disease transfer is a major reason for their high demand. Market growth will also be fueled by the presence of micronutrients, such as zinc and iron.

Due to their high nutritional contents, beetles rank as the most widely consumed invertebrates. A water beetle has 20gms of protein per 3 ounces, while a June beetle has 13gms. The beetles have high levels of iron and calcium and are therefore highly preferred by both younger and older consumers. Because they are high in protein, crickets offer more protein per 100g than beef and are less expensive, making them a better choice than other sources.

Regional Analysis

North America was the country with the highest share 27.4% in 2021, The U.S. had a greater share than 40.0% of North America’s total in 2021. In the future, consumers will be more aware of the nutritional advantages of invertebrates.

The Middle East, Africa, and Africa are the two largest contributors to market growth. They accounted for over 20% of the global market share in 2021. Market growth is being driven by high utilization in Africa and growing utilization in countries like UAE.

Europe is the fastest-growing continent, growing at a rate of 20.5% during the forecast period. Invertebrates are a popular way to cure malnutrition. They are easy to digest and a key factor in market growth.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share Analysis

The market is dominated by Bugsy Bros. Due to a lack of regulations and low production costs, the market has moderate to low entry barriers. Research and development by market players is a key driver of the market. Bitty Foods, Grilo, and other manufacturing companies have focused on R&D in order to offer consumers more options. This will positively affect the industry’s growth over the next few years.

Key Market Players

• Тhаіlаnd Unіquе
• Еnvіrо Flіght
• Еntоmо Fаrmѕ
• Nоrdіс Іnѕесt Есоnоmу
• Рrоtі-Fаrm
• ЕХО
• Кrеса Еntо-Fооd ВV
• ЕNТОТЕСН
• Other Key Players

For the Global Edible Insects Market research study, the following years have been considered to estimate the market size: